The National Bureau of Statistics (NBS), has disclosed that Nigeria’s capital market between 2018 and 2022, attracted a total of $19.2 billion (N8.83 trillion) in Foreign Direct Investment, FDI.
BizWatch Nigeria understands that the accrued FDI represents 31.2 per cent out of the $61.46 billion total capital importation into the country in the same period.
Analysis of the NBS numbers showed that the year 2022 recorded the highest decline in FDI, followed by 2021. Analysts, however, attributed this to domestic economic challenges such as scarcity of foreign exchange, and political uncertainty, among others.
Further analysis showed that in 2022, the stock market attracted $469.42 million out of a total $5.33 billion capital inflow into the nation’s economy.
The reported $469.42 million inflow into the stock market is a decline of about 57.08 per cent when compared to $1.09 billion inflow into the stock market in 2021.
According to the NBS, FDI importation into the stock market stood at $1.85 billion in 2020, contributing about 19.1 per cent out of the $9.68 billion capital inflow into the nation’s economy.
In addition, capital inflow into the stock market stood at $5.33 billion and $10.43 billion in 2019 and 2018 respectively.
